Red Robin Up 25% After Tasty Results

By Sam Mamudi

Shares of Red Robin Gourmet Burgers (RRGB) are up about 25% this afternoon after its fourth-quarter profit more than doubled and revenue grew by nearly 17%. It also gave a bullish outlook for the year ahead:

The company said revenue from its company-owned stores open at least a year increased 1.4 percent. This is considered a key measure of financial performance because it strips away the impact of recently opened and closed stores. As of the end of the quarter, there were 339 company-owned Red Robin restaurants.

Red Robin said it expects this same measure to increase 2.5 percent to 3 percent in its 2013 fiscal year as it benefits from higher prices, the number of items sold to each customer and increased guest visits. Additionally, the company said it plans to open 20 new restaurants during the year.

Other, fast-food, burger restaurants are also up today, with Wendy’s (WEN) and Burger KingWorldwide (BKW) up 2% at the latest.

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